Stocks nosedive as investors fret over signs of U.S. economic slowdown
CBSN
Stocks tumbled after fresh economic signals raised concerns about the outlook for U.S. growth.
The Department of Labor on Thursday released data showing that initial claims for unemployment benefits rose to 249,000 last week, topping analyst forecasts and reaching the highest level since August of 2023. Although layoffs around the country remain modest, some investors worry that the recent jump in jobless claims could be a prelude to a sharper drop in payrolls later this year.
New purchasing managers data also shows that manufacturers are weakening as they grapple with higher interest rates, while a growing number of companies reporting corporate earnings are pointing to softer consumer spending.
The two rounds of indirect talks between the U.S. and Iran have produced unique proposals addressing Iran's nuclear program — its enrichment capabilities and supply of highly enriched uranium — and how to make a deal that's economically beneficial to both countries, diplomatic sources tell CBS News.
Eric Dane, the actor best known for his role as Dr. Mark Sloan on the hit medical series "Grey's Anatomy," has died at the age of 53, his family announced Thursday. Kerry Breen contributed to this report. In:
President Trump on Thursday directed his administration to release files on UFOs and any "alien and extraterrestrial life," an issue that has drawn decades of public fascination — and spawned more than a few wild theories. In:
Truckee, California — Survivors tried to unbury their friends when an avalanche struck a group of backcountry skiers near Lake Tahoe in Northern California earlier this week, according to new harrowing details from a local sheriff's official. The avalanche, the deadliest in California history, killed at least eight people and left a ninth person missing. In:
A lawsuit against Amazon alleging the retailer sold a chemical on its website that played a role in the suicides of several teenagers and adults can proceed to trial, the Washington State Supreme Court ruled on Thursday. Edited by Alain Sherter In:
FBI Director Kash Patel, whose use of a government jet has frequently come under scrutiny, flew on a Justice Department plane Thursday to Italy with plans to attend the Olympic hockey medal rounds, according to public data and sources familiar with the matter. In:
Team USA defeated Canada in a stunning 2-1 overtime comeback win at the 2026 Milan Cortina Winter Games to take home their third Olympic gold medal in women's ice hockey. In:
Oil prices are climbing amid signs the U.S. may be planning to launch military strikes on Iran, raising questions about the potential economic fallout of heightened conflict in the region. Edited by Alain Sherter In:
Washington — Virginia Gov. Abigail Spanberger will deliver the Democratic response to President Trump's State of the Union address next week, party leaders in Congress announced on Thursday.
Washington — Abigail Shry's verbal threats against public officials have been racist, violent and detailed. Her targets have included a federal judge in Washington, a Democrat in the House and the Texas Capitol. She allegedly once said she would "annihilate" the Texas government in an "armed attack" that would be more violent than the Jan. 6 insurrection.
Most athletes train for years to reach the Olympics, but competing at an elite level doesn't always come with elite pay. Some U.S. Olympians must also hold down a job to help fund the years of training required to compete on the world's biggest stage. Edited by Aimee Picchi In:
Washington — President Trump on Thursday announced the United States will contribute $10 billion to the "Board of Peace" he established as part of his 20-point peace plan for Gaza, although the funding source isn't yet clear.
Years of accusations stemming from former Prince Andrew's close friendship with convicted sex offender Jeffrey Epstein culminated Thursday in a moment long sought by survivors of Epstein's abuse, when King Charles III's brother was arrested. Andrew Mountbatten-Windsor's arrest is related to suspected misconduct in public office, not his actions with young women linked to Epstein. In: